We are buying our first property. The conveyancer has contact usto ask if we would like to take out extra conveyancing searches. We are really unsure what's recommended for conveyancing in West Hendon
The scope of West Hendon conveyancing searches depends primarily on the property, the location, the likelihood of any of these risks, your knowledge of the area and risks, your general attitude to risk. What matters is that you properly understand what information each search could supply. You may then make a decision if you personally think you need that search. If uncertain, ask the property lawyer to advise.
I purchased a freehold property in West Hendon but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in West Hendon and has limited impact for conveyancing in West Hendon but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the generation of new rentcharges post 1977.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
I am selling my apartment in West Hendon. Will the conveyancer need to be required to be on the Skipton conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Skipton conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their conditions fairly frequently at the moment.
I'm purchasing my first flat in West Hendon with a mortgage from Accord Mortgages Ltd. The sellers refused to reduce the price so I negotiated five thousand pounds worth of extras instead. The house builders rep told me not to tell my conveyancer about the extras as it may jeopardize my mortgage with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the UK Finance website. UK Finance form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Due to the guidance of my in-laws I had a survey completed on a property in West Hendon ahead of retaining lawyers. I have been told that there is a flying freehold element to the house. My surveyor advised that some lenders will not grant a loan on this type of premises.
It depends who your proposed lender is. HSBC has different requirements for example to Halifax. If you call us we can check via the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in West Hendon. Conveyancing may be slightly more expensive based on your lender's requirements.
I am purchasing a house and require a conveyancing solicitor in West Hendon who is on the bank conveyancing panel. Can you recommend a West Hendon or local West Hendon solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for the lender who conduct conveyancing in West Hendon. We dont recommend any particular conveyancing practice.